Ascent Bridge Secures SG$2 Million Bridging Loan

MT Newswires

2024-11-07

Ascent Bridge (SGX:AWG) has secured a SG$2 million bridging loan from Eastern Billion Industries (EBIL) and Hu Yidong to address liquidity issues, according to a Wednesday filing on the Singapore Exchange.

The loan, disbursed in full on Nov. 5, carries a 12% annual interest rate and has a six-month term, extendable for another six months. The loan is secured by 5.8 million shares of its subsidiary, MTBL Global.

The company had faced delays in securing approval for a proposed placement, following an interim injunction that was lifted on Oct. 23. If the placement proceeds, the loan's interest will be waived.

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The loan is secured by 5.8 million shares of its subsidiary, MTBL Global.</p><p>The company had faced delays in securing approval for a proposed placement, following an interim injunction that was lifted on Oct. 23. If the placement proceeds, the loan's interest will be waived.</p>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK6068","symbol_name":"鋁","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2481796418","we_media_id":"1060499803","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2481796418","pubTimestamp":1730935547,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"MT Newswires","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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